FIGS (FIGS) 47th Annual Raymond James Institutional Investor Conference summary

Business overview and industry positioning

• Focuses on premium, functional products for healthcare professionals, transforming a traditionally unbranded, commoditized industry into a branded, community-driven space.

• Serves a replenishment-driven, non-seasonal, and non-cyclical market with 2.9 million active customers out of 140 million global healthcare professionals.

• Expanded from a digital-first model to an omni-channel presence, including five Community Hubs in major U.S. cities, with plans to open four more in 2026.

• Maintains a low SKU count with high volume, minimizing fashion and inventory risk while driving repeat purchases.

Product innovation and marketing

• Proprietary FIONx and new FORMx fabrications offer technical, durable, and comfortable apparel for various healthcare environments.

• Expanded product categories include patented medical-grade compression socks, bags, and accessories, supporting broad-based growth.

• Viral marketing campaigns, such as outfitting Team USA’s medical team and celebrity collaborations, have significantly increased brand engagement and organic traffic.

• Top-of-funnel storytelling and performance-based marketing drive customer acquisition and retention, with marketing spend around 15% of sales.

Global expansion and growth strategy

• Operates in 59 countries, focusing on deepening presence in Canada, Mexico, U.K., and Australia, while planning to enter 20 new markets in 2026.

• Utilizes data-driven market entry and a global ambassador program with 600 influencers to drive word-of-mouth growth.

• International sales grew 55% in the latest quarter, with China showing rapid traction on Tmall.